Stars Group can buy Sky Betting & Gaming for $4.7 billion

Sky Betting & Gaming (SBG), which belongs to CVC Capital Partners and Sky plc, may be absorbed by Stars Group. The Canadian gambling giant announced that it can make one of the largest corporate acquisitions in 2018, having issued a purchase of cash and shares for a total of $4.7 billion.This combination will result in the world’s largest publicly listed online gaming company.

Sky Betting will provide Stars with a strong presence in Europe, especially in the United Kingdom, Italy, and Germany, where its market share is growing rapidly. Stars will also gain a massive new customer base for its own games.

The Stars Group CEO Rafi Ashkenazi said: «SBG operates one of the world’s fastest growing sportsbooks and is one of the United Kingdom’s leading gaming providers. SBG’s premier sports betting product is the ideal complement to our industry-leading poker platform. The ability to offer two low-cost acquisition channels of this magnitude provides The Stars Group with great growth potential and will significantly increase our ability to create winning moments for our customers».